Amid widespread recognition that weed access is essential, federal relief for the industry is beginning to gain traction, at least with some favorably disposed politicians.
The cannabis industry has been broadly shut out of federal Covid relief programs. The industry, including most ancillary companies, is ineligible for the billions of dollars in forgivable loans being offered to most small businesses.
Pot shops are still hit by expanded paid sick leave requirements, and, of course, the financial challenges of operating in a pandemic.
MJBiz, Marijuana Moment, Los Angeles Times
- Codie A. Sanchez of Entourage Effect Capital discussed what the $2 Trillion-plus federal stimulus means for cannabis.
- A coalition of cannabis trade associations sent a letter to governors and state treasurers asking for support the Feds have denied them.
- Earlier this month in Washington D.C., a group of 11 Senators — all Democrats — called for the industry to have access to federal loan programs. Longtime legalization supporter Rep. Ed Perlmutter (D-Colo.) said Speaker of the House Nancy Pelosi (D-Calif.) wants cannabis banking included in an upcoming additional stimulus bill.
- MarketWatch examines how cannabis’ essential status is shifting in some markets.
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- Anti-pot writer and former New York Times reporter Alex Berenson is becoming a go-to figure on the right for coronavirus skepticism. “There has been no surge,” Berenson told Fox News host Sean Hannity, who made clear he does not share that view.
- A group representing young voters called on presumptive Democratic presidential nominee Joe Biden to reconsider his opposition to REC legalization.